The case involves a resolution plan for Royal Splendour Developers (P) LTD. The Resolution Applicant filed an affidavit stating that implementing the resolution plan is difficult because the Government proposed to lay a High Tension 440 KVA line through the Corporate Debtor's asset. The Resolution Professional filed a Writ Petition against TANTRANSCO, and the High Court of Madras passed an interim order to maintain the status quo. The High Court also directed the District Collector to consider the issue raised by the Applicant in the Writ Petition. The Resolution Applicant failed to get consent from adjoining landowners for a joint venture agreement.
The Resolution Applicant submitted an affidavit stating that implementing the resolution plan for Royal Splendour Developers (P) LTD is difficult. The Government proposed to lay a High Tension 440 KVA line through the Corporate Debtor's asset in Semmanchery Village, Thiruporur Taluk, Kancheepuram District. The Resolution Professional filed a Writ Petition against TANTRANSCO (State Electricity Department). The High Court of Madras passed an interim order to maintain status quo and directed the District Collector to consider the issue. The Resolution Applicant tried to tie up with farmers reflected in the Joint Venture Agreement but failed to get consent from adjoining landowners. The Resolution Applicant expressed inability to implement the Resolution Plan and adhere to
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The case involves a resolution plan for Royal Splendour Developers (P) LTD. The Resolution Applicant filed an affidavit stating that implementing the resolution plan is difficult because the Government proposed to lay a High Tension 440 KVA line through the Corporate Debtor's asset. The Resolution Professional filed a Writ Petition against TANTRANSCO, and the High Court of Madras passed an interim order to maintain the status quo. The High Court also directed the District Collector to consider the issue raised by the Applicant in the Writ Petition. The Resolution Applicant failed to get consent from adjoining landowners for a joint venture agreement.
The Resolution Applicant submitted an affidavit stating that implementing the resolution plan for Royal Splendour Developers (P) LTD is difficult. The Government proposed to lay a High Tension 440 KVA line through the Corporate Debtor's asset in Semmanchery Village, Thiruporur Taluk, Kancheepuram District. The Resolution Professional filed a Writ Petition against TANTRANSCO (State Electricity Department). The High Court of Madras passed an interim order to maintain status quo and directed the District Collector to consider the issue. The Resolution Applicant tried to tie up with farmers reflected in the Joint Venture Agreement but failed to get consent from adjoining landowners. The Resolution Applicant expressed inability to implement the Resolution Plan and adhere to
…The Bench directed the…
The High Court of…